Electrostatic Precipitator Market - U.S. to hit US$1 billion by 2024

Electrostatic precipitators market deployed at metal industry is expected to reach US$1 billion by 2024 driven by rapid industrialization and urbanization coupled with growing demand for steel may positively encourage the metal industry.

Global Market Insights, Inc.

Global Market Insights, Inc.

SELBYVILLE, Del., March 1, 2018 /PRNewswire-iReach/ -- Electrostatic Precipitator Market is poised to reach USD 8 billion by 2024, as per the latest report from Global Market Insights, Inc. Government measures toward air pollution with growing concern related to carbon emission will drive electrostatic precipitator market share. In the U.S., various standards towards emission including new source performance standard, under clean air act has been imposed on manufacturing industries to regulate industrial emission.

Strict regulations against emissions has spurred the demand for new and improved electrostatic precipitator systems over existing systems. Increasing concerns to reduce SO3 concentration emitted by coal fired power plants will stimulate the electrostatic precipitator market growth.

Growing energy demand subject to increasing investment in residential, construction and infrastructure sector by developing countries such as, India and China may further complement the industry outlook. Increasing adoption of fabric filters as they offer high collection efficiency may hinder industry growth over forecast period.

China contributed over 3% of regional electrostatic precipitator market share in 2015 and is expected to witness steady growth in future owing to increasing installation of coal fired power plants. Presence of large number of manufacturing industries will further complement regional demand.

Wet electrostatic precipitator market was valued over USD 500 million in 2015 and is expected to witness a substantial growth over forecast period owing to its potential to capture submicron particle with more than 90% efficiency over dry electrostatic precipitator. It has wide application in sulfuric acid manufacturing, paper, cement and textile industry.

Renovation of existing manufacturing industry will stimulate the Europe electrostatic precipitator market size growth during the forecast period. Germany was valued over USD 240 million in 2015 and is expected to grow over 5%.

Cement industry was worth 13% of global revenue share in 2015 and is expected to witness gain at over 4% from 2016 to 2024. Increasing spending on infrastructure development will favor business growth.

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.